Waterborne Polyurethane Market by Application (Coating, Sealant, Adhesive, and Elastomer), by Region (Europe, Asia-Pacific, North America, and RoW) - Trends & Forecast to 2019

Waterborne polyurethane (WPU) is fully reacted polyurethane in a continuous water phase, resulting in a solvent-free medium. The health and environmental issues caused due to the use of solvent-based polyurethane can be avoided by using WPU-based products. The continuous investment in R&D by the market players has resulted in technological advances that have made WPU an effective substitute for the solvent-based counterparts. The wide array of properties, such as high abrasion resistance, high impact strength, and low temperature flexibility has resulted in its increased use in many applications. WPU is being increasingly used in a number of coating, sealant, adhesive, and elastomer applications. It is relatively costly,due to the high cost involved in manufacturing process and the requirement of skilled workforce during formulation. This factor acts as a restraint in the growth of  waterborne polyurethane market. But the increasing public awareness about WPU products is a major opportunity for various market players.

The major drivers contributing to the growth of WPU market are:

• Replacement of solvent based polyurethane
• Growth in end-use industries
• Quality matrix

About the Market

The global waterborne polyurethane market has been growing rapidly during the last few years. The market is expected to continue growing at a healthy rate in the next five years, mainly driven by a growth in demand due to replacement of solvent-based polyurethane.

Europe is the largest market for the WPU, the region accounted for more than 35.0% of the global market demand in 2014. The implementation of continuously increasing stringent regulations in the region is a major driving force for market in Europe. Asia-Pacific is the second largest market for WPU, followed by North America. The major factors attributing to growth of waterborne polyurethane market in Asia-Pacific is the rapid growth of various end-use industries in the region such as footwear, automotive, and construction.

This study estimates the global market for 2014 and projects the expected demand of the same by 2019. This market research study provides a detailed qualitative and quantitative analysis of the global market. It also includes a comprehensive review of major market drivers, restraints, opportunities, winning imperatives, challenges, and key issues in the market. The market is further segmented and forecast based on major regions Europe, Asia-Pacific, North America, and Rest of the World. Various secondary sources such as encyclopedia, directories, and databases have been used to identify and collect information for this extensive commercial study of the waterborne polyurethane market. The primary sources, experts from related industries and suppliers, have been interviewed to obtain and verify critical information as well as to assess the prospects of the market.

The competitive scenario of the top players in the market has been discussed in detail. The top players of the industry are profiled in detail with their recent developments and other strategic industry activities. These include The Dow Chemical Company (U.S.), Bayer MaterialScience LLC (Germany), Axalta Coating Systems (U.S.), Henkel AG & Company (Germany), and PPG Industries Inc. (U.S.).

Scope of the report: This research report categorizes the global market for waterborne polyurethane on the basis of application and region and   forecasts market size in terms of value and volume, and analyzes trends in each of the regions.

On the basis of application: The waterborne polyurethane market is further segmented into sub categories as follows:

• Coating
• Sealant
• Adhesive, and
• Elastomer

On the basis of region: The global market is segmented into four regions; Europe, Asia-Pacific, North America, and Rest of the World.

Table of Contents

1 Introduction (Page No. - 13)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
                    1.3.1.1 WPU Market, By Application
                    1.3.1.2 WPU Market, By Region
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Package Size
    1.6 Stakeholders

2 Research Methodology (Page No. - 16)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Break Down of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions and Limitations
           2.4.1 Assumptions
           2.4.2 Limitations

3 Executive Summary  (Page No. - 23)

4 Premium Insights (Page No. - 26)
    4.1 Attractive Opportunities in the WPU Market
    4.2 WPU Market – Top Application Segments
    4.3 WPU Market in Asia-Pacific Region
    4.4 U.S. Largest WPU Market Globally
    4.5 WPU Market, By Application & By Region
    4.6 WPU Market: Developed vs Developing Nations
    4.7 Life Cycle Analysis, By Region (2014)

5 Market Overview (Page No. - 32)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 By Application
           5.2.2 By Region
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Replacement of Solvent-Based Polyurethane
                    5.3.1.2 Growth in End-Use Industries
                    5.3.1.3 Wide Array of Properties
           5.3.2 Restraints
                    5.3.2.1 Sensitivity to Humidity
                    5.3.2.2 High Cost of WPU
           5.3.3 Opportunities
                    5.3.3.1 1-K WPU Coating Systems
                    5.3.3.2 Increasing Public Awareness
           5.3.4 Challenge
                    5.3.4.1 Uneven Enforcement of Regulations
    5.4 Burning Issues 

6 Industry Trends (Page No. - 39)
    6.1 Introduction
    6.2 Value-Chain Analysis
    6.3 Prevailing Trends
    6.4 Porter’s Five Forces
           6.4.1 Threat of New Entrants
           6.4.2 Threat of Substitutes
           6.4.3 Bargaining Power of Suppliers
           6.4.4 Bargaining Power of Buyers
           6.4.5 Intensity of Competitive Rivalry
    6.5 Strategic Benchmarking
           6.5.1 New Product Launches is the Most Commonly Used Market Strategy for Market Players
           6.5.2 New Product Launch: Upcoming Strategy to Increase Customer Base

7 WPU Market, By Application (Page No. - 46)
    7.1 Introduction
    7.2 Coating
    7.3 Sealant
    7.4 Adhesive
    7.5 Elastomer

8 WPU Market, By Region (Page No. - 62)
    8.1 Introduction
    8.2 Europe
           8.2.1 U.K.
           8.2.2 Germany
           8.2.3 France
           8.2.4 Italy
           8.2.5 Rest of Europe
    8.3 Asia-Pacific
           8.3.1 China
           8.3.2 Japan
           8.3.3 India
           8.3.4 Rest of Asia-Pacific
    8.4 North America
           8.4.1 The U.S.
           8.4.2 Canada
           8.4.3 Mexico
    8.5 RoW: Emerging Market
           8.5.1 Brazil

9 Competitive Landscape (Page No. - 88)
    9.1 Overview
    9.2 Competitive Situations and Trends
           9.2.1 New Product Launch
           9.2.2 Expansions
           9.2.3 Mergers & Acquisitions
           9.2.4 Partnerships, Agreements, and Collaborations

10 Company Profiles (Page No. - 95)
     10.1 Introduction
     10.2 The DOW Chemical Company
     10.3 Bayer Materialscience Llc
     10.4 Axalta Coating Systems Llc
     10.5 Henkel AG & Company
     10.6 PPG Industries Inc.
     10.7 BASF S.E.
     10.8 H.B. Fuller
     10.9 RPM International Inc.
     10.10 The 3m Company
     10.11 The Sherwin-Williams Company

11 Appendix (Page No. - 119)
     11.1 Insights of Industry Expert
     11.2 Discussion Guide
     11.3 Introducing RT: Real Time Market Intelligence
     11.4 Available Customizations
     11.5 Related Reports

List of Tables (64 Tables)

Table 1 WPU Market Size, By Application, 2012-2019 ($Million)
Table 2 WPU Market Size, By Application, 2012-2019 (Kilotons)
Table 3 WPU Market Size, Top 5 Countries By Application, 2013 ($Million)
Table 4 WPU Market Size, Top 5 Countries By Application, 2013 (Kilotons)
Table 5 WPU Market Size in Coating Application, By Region, 2012-2019 ($Million)
Table 6 WPU Market Size in Coating Application, By Region, 2012-2019 (Kilotons)
Table 7 WPU Market Size in Coating Application, By Country, 2012-2019 ($Million)
Table 8 WPU Market Size in Coating Application, By Country, 2012-2019 (Kilotons)
Table 9 WPU Market Size in Sealant Application, By Region, 2012-2019 ($Million)
Table 10 WPU Market Size in Sealant Application, By Region, 2012-2019 (Kilotons)
Table 11 WPU Market Size in Sealant Application, By Country, 2012-2019 ($Million)
Table 12 WPU Market Size in Sealant Application, By Country, 2012-2019 (Kilotons)
Table 13 WPU Market Size in Adhesive Application, By Region, 2012-2019 ($Million)
Table 14 WPU Market Size in Adhesive Application, By Region, 2012-2019 (Kilotons)
Table 15 WPU Market Size in Adhesive Application, By Country, 2012-2019 ($Million)
Table 16 WPU Market Size in Adhesive Application, By Country, 2012-2019 (Kilotons)
Table 17 WPU Market Size in Elastomer Application, By Region, 2012-2019 ($Million)
Table 18 WPU Market Size in Elastomer Application, By Region, 2012-2019 (Kilotons)
Table 19 WPU Market Size in Elastomer Application, By Country, 2012-2019 ($Million)
Table 20 WPU Market Size in Elastomer Application, By Country, 2012-2019 (Kilotons)
Table 21 WPU Market Size, By Region, 2012–2019 ($Million)
Table 22 WPU Market Size, By Region, 2012–2019 (Kilotons)
Table 23 Europe: WPU Market Size, By Value and Volume
Table 24 Europe: WPU Market Size, By Country, 2012–2019 ($Million)
Table 25 Europe: WPU Market Size, By Country, 2012–2019 (Kilotons)
Table 26 U.K.: WPU Market Size, By Application, 2012–2019 ($Million)
Table 27 U.K.: WPU Market Size, By Application, 2012–2019 (Kilotons)
Table 28 Germany: WPU Market Size, By Application, 2012–2019 ($Million)
Table 29 Germany: WPU Market Size, By Application, 2012–2019 (Kilotons)
Table 30 France: WPU Market Size, By Application, 2012–2019 ($Million)
Table 31 France: WPU Market Size, By Application, 2012–2019 (Kilotons)
Table 32 Italy: WPU Market Size, By Application, 2012–2019 ($Million)
Table 33 Italy: WPU Market Size, By Application, 2012–2019 (Kilotons)
Table 34 Rest of Europe: WPU Market Size, By Application, 2012–2019 ($Million)
Table 35 Rest of Europe: WPU Market Size, By Application, 2012–2019 (Kilotons)
Table 36 Asia-Pacific: WPU Market Size, By Value and Volume
Table 37 Asia-Pacific: WPU Market Size, By Country, 2012–2019 ($Million)
Table 38 Asia-Pacific: WPU Market Size, By Country, 2012–2019 (Kilotons)
Table 39 China: WPU Market Size, By Application, 2012–2019 ($Million)
Table 40 China: WPU Market Size, By Application, 2012–2019 (Kilotons)
Table 41 Japan: WPU Market Size, By Application, 2012–2019 ($Million)
Table 42 Japan: WPU Market Size, By Application, 2012–2019 (Kilotons)
Table 43 India: WPU Market Size, By Application, 2012–2019 ($Million)
Table 44 India: WPU Market Size, By Application, 2012–2019 (Kilotons)
Table 45 Rest of Asia-Pacific: WPU Market Size, By Application, 2012–2019 ($Million)
Table 46 Rest of Asia-Pacific: WPU Market Size, By Application, 2012–2019 (Kilotons)
Table 47 North America: WPU Market Size, By Value and Volume
Table 48 North America: WPU Market Size, By Country, 2012–2019 ($Million)
Table 49 North America: WPU Market Size, By Country, 2012–2019 (Kilotons)
Table 50 U.S.: WPU Market Size, By Application, 2012–2019 ($Million)
Table 51 U.S.: WPU Market Size, By Application, 2012–2019 (Kilotons)
Table 52 Canada: WPU Market Size, By Application, 2012–2019 ($Million)
Table 53 Canada: WPU Market Size, By Application, 2012–2019 (Kilotons)
Table 54 Mexico: WPU Market Size, By Application, 2012–2019 ($Million)
Table 55 Mexico: WPU Market Size, By Application, 2012–2019 (Kilotons)
Table 56 RoW: WPU Market Size, By Value and Volume
Table 57 RoW: WPU Market Size, By Country, 2012–2019 ($Million)
Table 58 RoW: WPU Market Size, By Country, 2012–2019 (Kilotons)
Table 59 Brazil: WPU Market Size, By Application, 2012–2019 ($Million)
Table 60 Brazil: WPU Market Size, By Application, 2012–2019 (Kilotons)
Table 61 New Product Launch (2011-2014)
Table 62 Expansions (2011-2014)
Table 63 Mergers & Acquisitions (2011-2014)
Table 64 Partnerships, Agreements, and Collaborations (2011-2014)

List of Figures (53 Figures)

Figure 1 WPU Market, By Application
Figure 2 WPU: Research Design
Figure 3 Breakdown of Primary Interviews: By Company, Designation & Region
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Market Size Estimation Methodology: Data Triangulation
Figure 7 WPU Market Size, By Application, Snapshot (2014 vs 2019)
Figure 8 WPU Market Share, By Region, 2019 (Kilotons)
Figure 9 Attractive Growth Opportunities in the WPU Market During the Forecast Period (2014-2019)
Figure 10 Sealants Segment Application is Expected to Grow at the Highest Rate During the Forecast Period (2014-2019)
Figure 11 Coating Application has the Maximum Share in the Asia-Pacific Market
Figure 12 Rapid Growth Expectation in China and India
Figure 13 APAC is Expected to Dominate the Global WPU Market Across All Segments (2019)
Figure 14 Developing Markets are Expected to Grow Faster Than the Developed Ones During the Forecast Period (2014-2019)
Figure 15 Asia-Pacific Market to Observe Rapid Growth During 2014-2019
Figure 16 WPU Market Segmentation, By Application
Figure 17 WPU Market Segmentation, By Region
Figure 18 Replacement of Solvent-Based Polyurethane By Water-Based Polyurethane is A Major Driving Factor of the Market
Figure 19 Value-Chain Analysis: Major Value is Added During Product Formulation
Figure 20 Innovation and R&D : A Major Trend Among the Key Market Players
Figure 21 Porter’s Five Forces Analysis
Figure 22 Strategic Benchmarking: Bayer Materialscience Llc and the 3m Company Adopted Organic Growth Strategy for Enhancing Their Global Presence
Figure 23 Strategic Benchmarking: Axalta Coating Systems With Major Product Launches
Figure 24 Development of New Products is Expected to Continue to Drive the Market Growth During the Forecast Period
Figure 25 Growth of Coating vs Sealant Application
Figure 26 Sealant is Expected to Be the Fastest-Growing Segment in the WPU Market During the Forecast Period
Figure 27 Adhesive Market, 2014 vs 2019
Figure 28 Elastomer Application, Developing vs Developed Nations
Figure 29 High Growth Expectation From Emerging Economies During the Forecast Period
Figure 30 India & China: Top Growth Regions for WPU Market Globally
Figure 31 Europe, Top Applications (2014)
Figure 32 Growth in German Market
Figure 33 Asia-Pacific: WPU Market Snapshot – Most Lucrative Opportunities
Figure 34 China: Largest WPU Market Globally
Figure 35 North America
Figure 36 Companies Have Been Adopting New Product Launch as the Key Growth Strategy Over the Last Four Years(2011-2014)
Figure 37 New Product Launch & Development: Key Strategy Adopted By the Major Players for Increasing Their Market Share
Figure 38 Regional Revenue Mix of Top-5 Market Players
Figure 39 The DOW Chemical Company: Company Snapshot
Figure 40 The DOW Chemical Company: SWOT Analysis
Figure 41 Bayer Materialscience Llc: Company Snapshot
Figure 42 Bayer Materialscience Llc: SWOT Analysis
Figure 43 Axalta Coating Systems Llc: Company Snapshot
Figure 44 Axalta Coating Systems Llc: SWOT Analysis
Figure 45 Henkel AG & Company: Company Snapshot
Figure 46 Henkel AG & Company: SWOT Analysis
Figure 47 PPG Industries Inc.: Company Snapshot
Figure 48 PPG Industries Inc.: SWOT Analysis
Figure 49 BASF S.E.: Company Snapshot
Figure 50 H.B. Fuller: Company Snapshot
Figure 51 RPM International Inc.: Company Snapshot
Figure 52 The 3M Company: Company Snapshot
Figure 53 The Sherwin-Williams Company: Company Snapshot

The waterborne polyurethane market is projected be more than 1,350 Kilo Tons by 2019, at a CAGR of 7.7% between 2014 and 2019.

WPU is growing to play an important role in various end-use industries, especially in the building & construction industry. In many end-use industries, there is a growing demand for products with low VOC and HAPs content. The solvent-based polyurethane products emit high level of VOC and HAPs into the atmosphere, leading to increased health and environmental issues. But the products based on WPU release low or even no such particulates into the atmosphere. Hence, WPU has been extensively used to replace solvent-based products in many applications. The replacement of solvent-based polyurethane with WPU is a major driver of the waterborne polyurethane market.

Also, the implementation of stringent environmental regulations regarding air quality is also influencing the demand of WPU positively. Implementation of regulations which limit the emission level of VOC and HAPs into the atmosphere has increased the consumption of WPU, as WPU-based products comply with such regulations, thus resulting in increased demand for WPU-based products. The demand for Waterborne Polyurethane is also high due to their versatile properties which make them suitable for various applications.

Europe and Asia-Pacific are the top-two consumers of Waterborne Polyurethane, globally. The U.S. and China are the key countries in North America and Asia-Pacific, respectively growing at CAGRs of 7.0% and 10.9% between 2014 and 2019. The developing countries such as India and Brazil are also growing at a rapid pace due to the rising domestic demand and increasing population, which leads to increased consumption of various WPU products.

The Waterborne Polyurethane Market is projected to grow from more than $6.5 Billion in 2014 to approximately $10.0 Billion by 2019, at a CAGR of 9.0% between 2014 and 2019.

The key participants in the global market include The Dow Chemical Company (U.S.), Bayer MaterialScience LLC (Germany), Axalta Coating Systems (U.S.), Henkel AG & Company (Germany), and PPG Industries Inc. (U.S.).